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Leadership 'vital' to SME success

It may seem obvious, but for all companies, strong leadership is an essential part of success and this is especially true in less-sizeable enterprises, where much of the responsibility for a firm’s future direction will fall on one or two key personnel.

This is something that has been further reinforced by a new study by GrowthAccelerator. The organisation conducted an analysis of 6,000 of its clients and found that key traits that all the most successful enterprises have in common include an entrepreneurial spirit, drive and a firm commitment to growth.

In a piece for Real Business, the company stated: “Having a powerful ambition to grow and being an inspirational leader means you can fuel staff’s imagination and ensure everybody is working towards the same goals.”

However, it also acknowledged that we all need a little help and advice from time to time, observing that the most effective business leaders are those that recognise this and are keen to work with expert advisers to determine the best strategy for future success.

Bringing in fresh eyes that can view a firm from a new perspective can be a great way for leaders to spot new opportunities and really make an effort to address any potential areas of concern.

One example cited by GrowthAccelerator was Rugby-based manufacturer Automotive Insulations, which provides products for managing sound and temperature in vehicles, with clients including Bentley and Jaguar Land Rover.

This has been in business for 47 years, but it recognised that it can never hurt to take a new look at how to improve, so it brought in GrowthAccelerator to try and unlock more of its potential.